Basically, if you watch this video, you'll get the gist of why I'm building this.
It all began about two months ago when I began very addicted to Frets On Fire. Originally I used the keyboard, and it was working okay, but I decided to build a Guitar Hero Controller for a computer using no money at all.
My first guitar hero guitar was born. It had paper clip buttons and a nifty little "strum string" to replace the strum bar.
But I wasn't done there! I decided to start planning the final version! Here is a cardboard cutout of the new guitar plan next to the first one.

Since I didn't have the time or materials to actually make it out of wood like I planned, I used the cardboard cutout and a wooden Erector set to create this:

As you can plainly see (hopefully) this looks a lot more like a guitar and less like a.... whatever the first one looked like.
From far away it might just look like a cleaner version of the first one, but there's one big thing that you may have not noticed.

The buttons are all replaced with a string that goes all the way down the guitar! To press on a fret, you PRESS ON A FRET. Here's how the whole thing works.

The string is the ground wire for the whole thing. When it touches any of the 5 fret contacts, or the pick (which is connected to a wire) it completes the circuit!
The finished version will be made out of wood and the frets will be closer together. (I can't reach the 1st and 4th frets at the same time on this one!)

Anyway, I do need to know some things before I continue.
What is the best spacing the for frets? Should I measure the frets on my actual guitar and use that?
What should I use for the frets? Right now I'm using toothpicks wrapped in aluminum foil, but they're pretty weak. Maybe nails with the points cut off?
I'm painting it blue. Do you think it'll look good?
How much would someone pay for something like this?
Well, keep checking this threads for updates. It'll be done soon, and I'll post a video!
SCM
EDIT:
VIDEO OF IT PRETTY MUCH FINISHED!
http://www.youtube.com/watch?v=sDHD_1nImoY